ARNOULD GHISLAIN: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
ARNOULD GHISLAIN
Largest movements
- Financial fixed assets +€165,000
new in 2025: €165,000
- Cash -€60,647
down €60,647 (-29.5%), from €205,756 to €145,110
mainly Contributions, distributions and other (-€215,000) and Investment in fixed assets (net) (-€167,904)
- Tangible fixed assets -€5,660
down €5,660 (-12.6%), from €44,918 to €39,258
of which Plant, machinery and equipment: -€4,050
- Other debts +€202,043
up €202,043 (+8,657%), from €2,334 to €204,377
- Profit (loss) carried forward -€136,308
down €136,308 (-62.3%), from €218,720 to €82,412
- Tax, wage and social debts +€34,769
up €34,769 (+140%), from €24,814 to €59,582
of which Taxes: +€34,736
- Gross operating margin -€25,055
down €25,055 (-17.3%), from €145,240 to €120,184
- Taxes -€3,514
down €3,514 (-11.5%), from €30,592 to €27,078
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €251,674 | €349,577 | +€97,903 | +38.9% |
| Fixed assets | 21/28 | €44,918 | €204,257 | +€159,340 | +355% |
| Tangible fixed assets | 22/27 | €44,918 | €39,258 | -€5,660 | -12.6% |
| Plant, machinery and equipment | 23 | €40,654 | €36,604 | -€4,050 | -10.0% |
| Furniture and vehicles | 24 | €4,264 | €2,654 | -€1,611 | -37.8% |
| Financial fixed assets | 28 | - | €165,000 | +€165,000 | |
| Current assets | 29/58 | €206,756 | €145,319 | -€61,437 | -29.7% |
| Amounts receivable within one year | 40/41 | €1,000 | - | -€1,000 | |
| Trade receivables | 40 | €1,000 | - | -€1,000 | |
| Cash at bank and in hand | 54/58 | €205,756 | €145,110 | -€60,647 | -29.5% |
| Deferred charges and accrued income | 490/1 | - | €210 | +€210 | |
| Total equity and liabilities | 10/49 | €251,674 | €349,577 | +€97,903 | +38.9% |
| Equity | 10/15 | €221,720 | €85,412 | -€136,308 | -61.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €218,720 | €82,412 | -€136,308 | -62.3% |
| Amounts payable | 17/49 | €29,954 | €264,164 | +€234,211 | +782% |
| Amounts payable within one year | 42/48 | €29,954 | €264,164 | +€234,211 | +782% |
| Trade debts | 44 | €2,806 | €205 | -€2,601 | -92.7% |
| Suppliers | 440/4 | €2,806 | €205 | -€2,601 | -92.7% |
| Taxes, remuneration and social security | 45 | €24,814 | €59,582 | +€34,769 | +140% |
| Taxes | 450/3 | €24,592 | €59,328 | +€34,736 | +141% |
| Remuneration and social security | 454/9 | €221 | €254 | +€33 | +14.8% |
| Other amounts payable | 47/48 | €2,334 | €204,377 | +€202,043 | +8,657% |
| Remuneration, social security and pensions | 62 | €4,968 | €5,421 | +€453 | +9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,340 | €8,564 | +€224 | +2.7% |
| Other operating charges | 640/8 | €104 | €104 | = | 0.0% |
| Gross operating margin | 9900 | €145,240 | €120,184 | -€25,055 | -17.3% |
| Operating profit (loss) | 9901 | €131,828 | €106,095 | -€25,733 | -19.5% |
| Financial charges | 65/66B | €46 | €325 | +€279 | +601% |
| Recurring financial charges | 65 | €46 | €325 | +€279 | +601% |
| Profit (loss) for the period before taxes | 9903 | €131,782 | €105,770 | -€26,012 | -19.7% |
| Income taxes | 67/77 | €30,592 | €27,078 | -€3,514 | -11.5% |
| Profit (loss) for the period | 9904 | €101,190 | €78,692 | -€22,498 | -22.2% |
| Profit (loss) for the period to be appropriated | 9905 | €101,190 | €78,692 | -€22,498 | -22.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.